SALT LAKE CITY, March 22, 2011 /PRNewswire/ — Nexia Holdings, Inc.’s (PINKSHEETS:NXHD.pk – News) subsidiary Redline Entertainment, Inc. has signed a contract for the license rights to the foreign distribution of the feature length film Paladin. This makes a total of five films for which foreign distribution rights have been obtained by Nexia’s entertainment division.

Richard Surber, Nexia’s CEO, said, “I am excited about the success we are experiencing with our efforts to expand our film rights library for foreign distribution. If Redline continues to accumulate licensing rights at this pace, I expect Nexia to be in a very good place in a relatively short period of time. The result will be substantial additional streams of income in addition to the films produced directly by Revel.”

The movie Paladin was shot on location in Ireland and is a dragon focused fantasy adventure film. The film was directed by Anne Black and stars Nicola Posener, Ian Cullen, and Philip Brodie. Efforts to market the film began at the Berlin Film Festival in mid-February and negotiations are ongoing with German and UK distributors. Ongoing efforts to market all five films will continue at the Cannes Film Festival that will take place from May 11-22, 2011 Cannes Festival Web Site.

The agreement with the producers of Paladin, Fantasy Feature Funding One LLC, includes the right to a second dragon movie The Virgin and the Warrior that is scheduled to begin shooting in April of this year. The level of interest in both of these projects by the foreign distributors markets is very high and has generated significant interest in these projects as Revel develops it film library for foreign distribution.

Nexia’s wholly owned subsidiaryRevel Entertainment, Inc. owns a majority interest in Aesop Pictures LLC, which owns The Kane Files and a minority interest in Repo. The Kane Files was filmed exclusively in the State of Utah. The film stars Drew Fuller (Winner of the Best Actor Award at San Diego Film Festival in 2010), Ethan Embry, William Atherton, and William Devane.

Nexia strongly encourages the public to read the above information in conjunction with its reports filed at www.pinksheets.com. Nexia will require a significant influx of capital in order to effectively execute upon its various operational plans. The actual results that Nexia may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Investors should not invest more than they can afford to lose in penny stocks.